SPRINGFIELD, Mass. (WGGB/WSHM) – Budgeting and spending during the holidays can consume family households trying to make the best of the season. “That’s what Christmas should be, together as family and spending it together,” said Robert Morre of Chicopee.

Whether it be spending time with the family or spending money on gifts, the holiday season calls for a big demand. “The budgeting, it’s a little tight to save and to come back, so this year, I am trying to do simple things, not too much in the spending,” said Nadia Soto from Florida.

For some, a big family means lots of saving and budgeting. “I got two adult kids, a grandson, two brothers, extended family, wife, so I try to keep on average for everybody down about $100, might splurge for the wife…happy wife, happy life,” Morre added.

Some are also getting ahead before items sell out. “That big item is something we really strive to get and, even if we get it before the sales, if that’s a big item we know might sell out, we get it ahead of time,” said Katelyn Sawi of Chicopee.

CapitalOne holiday shopping statistics said that, on average, Americans budget about $641 for holiday gifts. Austin Porchelli, an investment advisor with Help to Retire, explained some options for folks budgeting during the holiday season. “Maybe having a portion of your funds being allocated to that or, if you’re taking out a distribution, have a savings account designated for that,” he said.

He added that, for those experiencing great profit in the market, you have options as well. “Go to something as lower interest-bearing accounts, like if you have a saving account earing one percent, that’s better than taking from an account earing 20 percent,” Porchelli added.

Porchelli said that, if you are spending more than 10 percent of your savings, you should reevaluate your holiday spending.

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